Crypto Funds Saw 2nd Largest Record Inflow: All About BTC, ETH, XRP

Key Insights:

Crypto funds saw $3.7 billion in weekly inflows. The second-largest inflows as Bitcoin price continued to hit new ATHs, amid bullish crypto news.
Binance founder Changpeng “CZ” Zhao, Ark Invest CEO Cathie Wood, and Rich Dad Poor Dad author Robert Kiyosaki remained bullish on a further market rally.
Support from strong Bitcoin and Ethereum ETFs inflows in the U.S. and corporate adoption fueled bullish sentiment.

Crypto funds saw the 2nd largest inflows to date of $3.7 billion, indicating massive bullish sentiment among investors. Bullish sentiment among institutional investors continues as Bitcoin (BTC) and Ethereum (ETH) dominate with one of the largest inflows, as per a report.

Experts such as Binance founder Changpeng “CZ” Zhao, Ark Invest CEO Cathie Wood, and Rich Dad Poor Dad author Robert Kiyosaki shilled bullish scenarios as the crypto market rallied.

Crypto Funds Record $3.7 Billion in Inflows: CoinShares

Crypto funds saw $3.27 billion in inflows, the 13th consecutive week of inflows, reported CoinShares on July 14. This caused total assets under management (AuM) to reach a new high of $211 billion.

Bitcoin saw $2.7 billion in inflows, indicating massive interest among investors as they continued buying despite BTC price hitting a new ATH. Strong support from Bitcoin ETFs inflows and companies expanding their Bitcoin treasuries boosted bullish sentiment.

This equals 54% of the total AuM held in gold ETPs, happening for the first time as per the report.

Ethereum (ETH) maintained its positive momentum for the 12th consecutive week, with $990 million in inflows. According to the report, this marks the 4th largest inflow on record.

Demand for Ethereum surpassed Bitcoin as ETH recorded record inflows over the past 12 weeks, accounting for 19.5% of its AuM as compared to 9.8% for Bitcoin.

Institutional demand for Solana (SOL) also continued for another week, with $92.6 million in inflow. The major factors contributing to a massive rise in buying include the Rex-Osprey Solana Staking ETF (SSK) launch, Solana-based tokenized stocks, and sentiment on spot Solana ETF approval.

Meanwhile, XRP saw $104 million in outflow from funds despite positive developments related to the Ripple vs SEC lawsuit and high odds of XRP ETF approval in the United States. In contrast, XRP price rallied 30% in a week as it eyes reclaiming over $3 again.

Moreover, SUI and Cardano (ADA) also witnessed inflow. However, the institutional buying for these altcoins remained low.

As per the report, institutional investors were largely bullish in the United States. Spot Bitcoin and Ethereum ETFs, along with other funds, saw a net inflow of $1.25 billion.

Institutional investors were largely bullish in the United States, with inflows of $3.7 billion. Also, Switzerland and Canada posted inflows of $65.8 million and $17.1 million, respectively.

In contrast, crypto funds in Germany, Sweden, and Brazil recorded outflows.

Experts Remain Bullish on the Crypto Market

Changpeng “CZ” Zhao, Ark Invest CEO Cathie Wood, and Rich Dad Poor Dad author Robert Kiyosaki expressed bullish sentiment as Bitcoin price hit an ATH above $123K.

Robert Kiyosaki believed Bitcoin price could rally further as he continued to recommend buying Bitcoin. The sudden Bitcoin price rally indicated confidence among investors.

Cathie Wood, CEO of ARK Invest, predicted Bitcoin could reach $3.8 million by 2030, driven by institutional and corporate adoption.

Meanwhile, CZ reaffirmed that Bitcoin and other top crypto prices were still in the dip. He advised the crypto community to buy, as there will always be dips before the next all-time high.

Bitcoin Price Performance

BTC price jumped 4% in the past 24 hours, with the price currently trading at $121,823. The 24-hour low and high were $118,192 and $123,091, respectively.

Furthermore, the trading volume has increased by 164% in the last 24 hours, indicating a massive rise in interest among traders.

CoinGlass data showed BTC and ETH futures hitting new ATHs. At the time of writing, the total BTC futures open interest jumped 5% to $88.42 billion in the last 24 hours.

Whereas, ETH futures OI climbed more than 6% to $44.62 billion in the last 24 hours. This signals bullish sentiment among derivatives traders.

The post Crypto Funds Saw 2nd Largest Record Inflow: All About BTC, ETH, XRP appeared first on The Coin Republic.

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